A fast car could mean a lot of things for the young driver. A fast life, hep friends and the perfect girlfriend. It also means no car insurance, especially if you are in UK. Insurance companies offer insurances in terms of risk factor. A young driver with nothing but attitude and plenty of social appeal on him unfortunately doesn’t appeal to the insurance companies as a great prospect to offer insurance to. Well, they have their reasons of course, the obvious ones being the statistics that show at least fifty percent of the accidents involving at least one party of under-25.
While it is conceivable that you would not be able to secure insurance for your car if you are a young driver, there are companies, of course that offer insurance at high premiums. Some companies just have a flat no for an answer for the shiny new driver’s license you just picked up from the agency. While others go to great lengths explaining to you how you could be listening to your favourite band, swaying along and unseeingly rear end the vehicle in front of you. But how to avoid this situation and ensure that proper insurance is secured for your car while avoiding rates that hit the sky?
Of course, you could go to great lengths too explaining how careful a driver you are and how diligent you have been at your driving classes and how the instructor patted your head and said you are the best student he ever had….Or you can take an advanced driving test. These tests are a tad complex than the normal driving test you need to take for your driving license. They have great ways to determine your attention levels, responsibility levels and familiarity with rules and regulations. Some companies have what you could call a soft spot for these tests. They could decrease your premium rates or even issue a general insurance policy depending on your scores.
Another way to lower your quote would be to take only specific damage coverage while opting for insurance. For example, coverage for only the third party involved or opting for a third party fire or theft coverage will ensure that your rates would come down pretty smoothly. After all, why pay huge amounts for insurance if you only own a battered second hand with a ’60s engine?
The most significant way is to buy a car with an already low insurance group number. This number is relevant to the components and qualities of the car. The range of insurance group numbers varies from one to twenty. The cars which have advanced and bigger engines, which promise to take you on the ride of your life, are more likely to have a higher insurance group number. And as you can imagine, cars with higher insurance group numbers have higher insurance rates. And of course, since you are a new driver, apparently inefficient in handling such fast cars (insurance companies do not ask your cronies about your driving), it is likely that you either end up with huge insurance premiums to be paid, or no insurance at all. So choose your first car wisely. It’s not so worth after you get into an accident and can’t even get your money back, right?